DMG Blockchain Solutions Announces Operational Update

VANCOUVER, British Columbia, March 21, 2024 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) (FRANKFURT: 6AX) (“DMG” or the “Company”), a vertically integrated blockchain and cryptocurrency technology company, announces an operational update:

• New Mining Capacity: DMG is continuing to progress towards energizing 54 mining containers on its Christina Lake mining facility property. The Company has energized its first four containers and expects to be fully operational in the June quarter to support its new T21 fleet deployment.
  
  
• Miner Deployment Plan: DMG continues to expect that it will be able to deploy all of its ordered 4,550 units of new Bitmain T21 miners in the June 2024 quarter. However, the Company now plans to operate its T21 mining fleet in standard energy mode. As a result, its 4,550 unit T21 fleet is expected to generate 0.86 EH/s with an efficiency of 19 J/TH (versus 1.06 EH/s, 22 J/TH expected prior). This change enables a migration of more of the Company’s overall mining fleet to containerized mining, which should result in more consistent hashrate generation, especially through the summer months.
  
  
• New Data Center Site: Regarding DMG’s development of a new data center site with access to low-cost reliable renewable energy located in Canada in a province outside of British Columbia, the Company has made its first site visit, has progressed with its deployment plan and continues to work towards executing a binding agreement. Further information will be provided if and when the definitive agreement and regulatory approvals are obtained for this new data center site.
  

Grant of Stock Options

DMG also announces it has granted 1,184,430 stock options (“Options”) to employees and directors of the Company. The Options are exercisable for a period of five years at a price of $0.58 per share and will vest as to 25% on each of the six-, 12-, 18- and 24-month anniversaries of the grant date.

About DMG Blockchain Solutions Inc.

DMG is an environmentally friendly vertically integrated blockchain and data center company that manages, operates and develops end-to-end digital solutions to monetize the blockchain ecosystem. DMG’s sustainable businesses are segmented into two business lines under the Core and Core+ strategies and unified through DMG’s vertical integration.